Geo-multiplier reset ¶
Some sneaky fools from Europe proposed, and in last hours voted in using millions of tokens, to set the same multiplier for all geo-bins (regions) worldwide.
This was beyond stupid, because it results in centralization and loss of security. Many cMix rounds are already mixed completely within the European Union, and incentivizing validators to run their nodes there only makes it worse.
I voted against it, but most other validators thought somebody else would do their job and prevent this disaster.
After the XX Team returned from Concensus and the new geo-multiplier rules kicked in, they updated old rules and so within only two weeks we may return to what we had before.
As the referendum passed, I did what I had to do to protect myself from this stupidity.
- The TM-backed node (PRIDE, formerly XXV3) is still in East Asia, earning 25-30% less (waiting for the return of geo-multiplier larger than 1.00)
- Two new and independent nodes (ENVY, SLOTH) were deployed in West europe, and so far (three eras) I’ve managed to keep them elected and nominate them mostly by myself (with around 410K xx for two nodes, plus some smaller nominators)
So, the outcome is network is now more centralized, less secure, and there’s no impact for me. I had to do some extra work to install that shit in Europe, but it looks like it may be worth it (assuming the nodes keep getting elected until old geo-multiplier returns).
If the new nodes keep providing same or better earnings as nomination of other nodes, I may relocate them to APAC in July.
UNITED-VALIDATORS ¶
I don’t want to write a new post for this, but I used this opportunity to change “branding” from generic “XXV{NUMBER}” to “UNITED-VALIDATORS{WORD}” to better reflect the values of the part of XX validator community that’s subsidized with Team Multiplier.
They whine about everything - most recently even about the competition from non-subsidized nodes! - get upset when independent validators manage to compete with them (outrageous!) and often claim that TM-backed validators care about the network more than other validators (but 90% won’t claim less than the 18% maximum when “helping” the network).
It’s like a crypto version of Bastiat’s candlemarkers’ petition, or (more recent example) NYC cab drivers vs. Uber.
Meanwhile indepdent nodes such as ENVY and SLOTH do the same job better than most, and do that for a 50% lower commission and without Team Multiplier.